DOCSLIB.ORG

Prospectus UNIQA Insurance Group AG Tier 2 Notes

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Prospectus UNIQA Insurance Group AG Tier 2 Notes Prospectus dated 6 July 2020 UNIQA Insurance Group AG (a stock corporation incorporated under the laws of the Republic of Austria) EUR 200,000,000 subordinated fixed to floating rate notes due 2035 ISIN XS2199567970, Common Code 219956797 Issue price: 99.507 per cent UNIQA Insurance Group AG (the "Issuer") will issue on 9 July 2020 (the "Issue Date") EUR 200,000,000 subor- dinated fixed to floating rate notes due 2035 in the specified denomination of EUR 100,000 each (the "Specified Denomination") (the "Notes"). The Notes will be governed by the laws of the Federal Republic of Germany ("Germany"). The Notes will bear interest from and including the Issue Date to but excluding 9 October 2025 (the "First Reset Date") at a rate of 3.25 per cent. per annum, scheduled to be paid annually in arrear on 9 October in each year, commencing on 9 October 2020. Thereafter, unless previously redeemed, the Notes will bear interest at a rate equal to the 3-months EURIBOR, (being the Euro-zone interbank offered rate for three-month Euro deposits) plus 3.7% per annum (the "Initial Credit Spread"), scheduled to be paid quarterly in arrear on 9 January, 9 April, 9 July and 9 October in each year (each a "Floating Interest Payment Date"), commencing on 9 January 2026. As of each Floating Interest Payment Date falling 10 years after the Issue Date, unless previously redeemed, the Notes will bear interest per annum at a rate equal to the 3-months EURIBOR, plus the Initial Credit Spread plus 1 per cent. per annum (the "Margin"). Under certain circumstances described in §3(4)(d) of the Terms and Conditions of the Notes (the "Terms and Conditions") certain benchmark replacement provisions will apply in case the 3-months EURI- BOR (or a successor benchmark) used as a reference for the calculation of interest amounts payable under the Notes were to be discontinued or otherwise unavailable. Under certain circumstances described in the Terms and Condi- tions, interest payments on the Notes may be deferred at the option of the Issuer or will be required to be deferred. The Notes are scheduled to be redeemed at their Specified Denomination on 9 October 2035 (the "Scheduled Ma- turity Date"), provided that on such date the Conditions to Redemption and Repurchase (as defined in the Terms and Conditions) are fulfilled. If this is not the case, the Notes will be redeemed only in the circumstances described in the definition of the term Final Maturity Date (as defined in the Terms and Conditions) on the Final Maturity Date. Under certain circumstances described in § 4 of the Terms and Conditions, the Notes may be subject to early redemption. This includes that under certain circumstances the Issuer may call the Notes for early redemption (in whole but not in part) for the first time with effect as of the First Call Date and on each Floating Interest Payment Date thereafter. The Notes will initially be represented by a temporary global note in bearer form (each a "Temporary Global Note"). Interests in the Temporary Global Note will be exchangeable, in whole or in part, for interests in a permanent global note (each a "Permanent Global Note" and together with the Temporary Global Notes, each a "Global Note") not earlier than 40 days after the Issue Date (the "Exchange Date"), upon certification as to non-U.S. bene- ficial ownership. The Global Notes will be deposited with a common depositary for Clearstream Banking S.A. and Euroclear Bank SA/NV (together, the "Clearing System"). This prospectus (the "Prospectus") constitutes a prospectus within the meaning of Article 6(3) of Regulation (EU) No 2017/1129 of the European Parliament and of the Council of 14 June 2017 (as amended, the "Prospectus Regulation") and is drawn up in accordance with Annexes 7 and 15 of Commission Delegated Regulation (EU) No 2019/980 of 14 March 2019 supplementing the Prospectus Regulation. This Prospectus will be published in elec- tronic form together with all documents incorporated by reference on the website of the Issuer (https://www.uniqagroup.com/gruppe/versicherung/investor-relations/Anleihen.en.html). This Prospectus will be valid until 10 July 2020. Application has been made to the Vienna Stock Exchange for the Notes to be listed on the official market (Amtlicher Handel) (the "Official Market") of the Vienna Stock Exchange (Wiener Börse) and to be admitted to trading on the Vienna Stock Exchange's Official Market. The Vienna Stock Exchange's Official Market is a regulated market for the purposes of Directive 2014/65/EU of the European Parlia- ment and of the Council of 15 May 2014 on markets in financial instruments (as amended, "MiFID II"). This Pro- spectus does not constitute an offer to sell, or the solicitation of an offer to buy, the Notes in any jurisdiction where such offer or solicitation is unlawful. The Notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") and subject to certain exceptions, the Notes may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons. This Prospectus has been approved by the Austrian Financial Market Authority (Finanzmarktaufsichts- behörde, the "FMA") in its capacity as competent authority under the Prospectus Regulation and pursuant to the Capital Market Act 2019. The accuracy of the information contained in this Prospectus does not fall within the scope of examination by the FMA. The FMA examines and approves this Prospectus only in respect of its completeness, comprehensibility and consistency imposed by the Prospectus Regulation. Such approval should not be considered as an endorsement of the Issuer and the quality of the Notes that are the subject of this Prospectus. The Notes are not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the European Economic Area ("EEA") or the United Kingdom ("UK"). For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of MiFID II; or (ii) a customer within the meaning of Directive (EU) 2016/97 (as amended, the "Insurance Distribution Directive"), where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II. Consequently, no key information document required by Regula- tion (EU) No 1286/2014 (as amended, the "PRIIPs Regulation") for offering or selling the Notes or otherwise mak- ing them available to retail investors in the EEA or the UK has been prepared and therefore offering or selling the Notes or otherwise making them available to any retail investor in the EEA or the UK may be unlawful under the PRIIPs Regulation. Prospective purchasers of the Notes should ensure that they understand the nature of the Notes and the extent of their exposure to risks and that they consider the suitability of the Notes as an investment in the light of their own circumstances and financial condition. Investing in the Notes involves certain risks. Please review the section entitled "Risk Factors" beginning on page 1 of this Prospectus. If any of these risks materialises, investors may lose all or a very substantial part of their investment and of their interest claims. The Notes should be purchased and traded only by persons knowledgeable in investment matters. Following the First Reset Date, amounts payable under the Notes are calculated by reference to the 3-months EU- RIBOR ("EURIBOR"), which is provided by the European Money Market Institute ("EMMI"). As at the date of this Prospectus, EMMI appears on the register of administrators and benchmarks established and maintained by the European Securities and Markets Authority ("ESMA") pursuant to Article 36 of the Benchmark Regulation (Regu- lation (EU) 2016/1011) (the "Benchmark Regulation"). Joint Lead Managers HSBC J.P. Morgan Raiffeisen Bank International RESPONSIBILITY STATEMENT This Prospectus (the "Prospectus") comprises information with regard to UNIQA Insurance Group AG (the "Issuer" or the "Company") and its consolidated subsidiaries (the "Subsidiaries") taken as a whole (together the "UNIQA Group" or the "Group") and the Notes. The Issuer, having its registered office at Untere Donaustraße 21, 1029 Vienna, Austria, accepts responsibility for the information contained in this Prospectus and hereby declares that the information contained in this Prospectus is, to the best of the knowledge of the Issuer, in accordance with the facts and that this Prospectus makes no omission likely to affect its import. NOTICE No person is authorised to give any information or to make any representation other than those contained in this Prospectus and, if given or made, such information or representation must not be relied upon as having been author- ised by or on behalf of the Issuer or HSBC Bank plc, J.P. Morgan Securities plc and Raiffeisen Bank International AG (together, the "Joint Lead Managers"). This Prospectus should be read and understood in conjunction with any supplement hereto and with all documents incorporated herein or therein by reference. The legally binding language of this Prospectus is English. Any part of the Prospectus in German language consti- tutes a translation, except for the Terms and Conditions in respect of which German is the legally binding language. In this Prospectus, all references to "€", "EUR" or "Euro" are to the currency introduced at the start of the third stage of the European economic and monetary union, and as defined in Article 2 of Council Regulation (EC) No 974/98 of 3 May 1998 on the introduction of the Euro, as amended.
Load more

Recommended publications
  • Safer Better Longer Patient-Driven Healthcare Opportunities for Start-Ups a Look Into the Future: the World in 2030 Interview with Peter Eichler
    safer better longer Patient-driven healthcare Opportunities for start-ups A look into the future: the world in 2030 Interview with Peter Eichler. Page 25 Impact Hub Vienna launches Mission 120. Page 37 Urbanisation, climate change and more. Page 49 UNIQA Group 2017 Sustainability Report Dear Readers, Our future My colleagues on the board and I belong to a generation that, Thirty-six-year-old Silvana Darda has been working at UNIQA in its youth, was very critical of the political views held by our for 13 years. She just recently became the mother of Emilia. parents and grandparents: we were concerned with issues such as nuclear energy, equal education opportunities for all, the im- She explained to us what sustainability means to her and how she portance of protecting the environment – think: the occupation of the would like to pass these values on to her child. Hainburger Au wetlands – or how the majority of the political parties and population dealt with Austria’s role before, during and after the Nazi regime – keyword: the Wald- Sometimes when Emilia is asleep in my arms, I lean down and gently inhale, and heim Affair. The stubbornness that we saw in the self-righteous establishment made us then thoughts come up that probably go through every mother’s mind: What will furious. We knew we were going to be totally different when we were adults. the world be like when my baby is 60 years old? When I am no longer there to pro- tect her. When she might already have grandchildren of her own.
    [Show full text]
  • UNIQA Annual Financial Report 2018
    At the forefront. Annual Financial Report 2018 according to section 124(1) of the Austrian Stock Exchange Act UNIQA Insurance Group AG 2 Contents 3 Contents Consolidated Corporate Governance Report 4 Report of the Supervisory Board 16 Group Management Report 22 Consolidated Financial Statements 42 Segment Reporting 51 Notes to the Consolidated Financial Statements 62 Risk Report 120 Approval for publication 137 Declaration of the legal representatives 138 Audit Opinion 139 4 Consolidated Corporate Governance Report CORPORATE GOVERNANCE 5 UNIQA has been committed to compliance with the UNIQA also declares its continued willingness to comply Austrian Code of Corporate Governance since 2004 and with the Austrian Code of Corporate Governance as cur- publishes the declaration of conformity both in the Group rently amended. However, UNIQA deviates from the provi- report and on www.uniqagroup.com in the Investor Rela- sions of the Code as amended with regard to the following tions section. The Austrian Code of Corporate Governance C rules (comply or explain rules), and the explanations are is also publicly available at www.uniqagroup.com and set out below. www.corporate-governance.at. Rule 49 of the Austrian Code The Corporate Governance Report and the Consolidated of Corporate Governance Corporate Governance Report of UNIQA Insurance Group AG are summarised in this report in accordance with Sec- Due to the growth of UNIQA’s shareholder structure and tion 267b in conjunction with Section 251(3) of the Austri- the special nature of the insurance business with regard an Commercial Code. to the investment of assets, there are a number of con- tracts with individual members of the Supervisory Boards Implementation and compliance with the individual rules of related companies in which these Supervisory Board in the Austrian Code of Corporate Governance, with the members discharge duties as members of governing bodies.
    [Show full text]
  • Winter in Prague Tuesday 5 December to Friday 8 December 2017
    emerging europe conference Winter in Prague Tuesday 5 December to Friday 8 December 2017 Our 2017 event held over 4 informative and jam-packed days, will continue the success of the previous five years and host almost 3,000 investor meetings, with over 160 companies representing 17 countries, covering multiple sectors. For more information please contact your WOOD sales representative: WOOD & Company Save Warsaw +48 222 22 1530 the Date! Prague +420 222 096 452 conferences 2017 London +44 20 3530 0611 [email protected] Participating companies in 2016 - by country Participating companies in 2016 - by sector Austria Hungary Romania Turkey Consumer Financials Healthcare TMT Atrium ANY Banca Transilvania Anadolu Efes Aegean Airlines Alior Bank Georgia Healthcare Group Asseco Poland AT&S Budapest Stock Exchange Bucharest Stock Exchange Arcelik AmRest Alpha Bank Krka AT&S CA Immobilien Magyar Telekom Conpet Bizim Toptan Anadolu Efes Athex Group (Hellenic Exchanges) Lokman Hekim CME Conwert MOL Group Electrica Cimsa Arcelik Banca Transilvania Cyfrowy Polsat S.A. Erste Bank OTP Bank Fondul Proprietatea Coca-Cola Icecek Astarta Bank Millennium Industrials Luxoft Immofinanz Wizz Air Hidroelectrica Dogan Holding Atlantic Grupa BGEO Aeroflot Magyar Telekom PORR Nuclearelectrica Dogus Otomotiv Bizim Toptan Bank Zachodni WBK Cimsa O2 Czech Republic RHI Kazakhstan OMV Petrom Ford Otosan CCC Bucharest Stock Exchange Ciech Orange Polska Uniqa Insurance Group Steppe Cement Romgaz Garanti Coca-Cola Icecek Budapest Stock Exchange Dogus Otomotiv OTE Vienna
    [Show full text]
  • Presentation Uniqa 8.17
    UNIQA Insurance Group AG – at a glance The UNIQA Group is one of the leading insurance groups in its core markets in Austria and Central and Eastern Europe. UNIQA has around 40 companies in 18 countries and serves about 10,1 million customers. With UNIQA and Raiffeisen Versicherung, the Group has the two strongest insurance brands in Austria and is well positioned in the CEE markets. The history of UNIQA dates back more than 200 years to the establishment of Salzburger LandesVersicherung AG in 1811. Since then, business has developed into a Europe-wide insurance provider. The first steps towards becoming an insurer outside of Austria were made in 1991. UNIQA Österreich Versicherungen AG is the largest insurance company in the Austrian market with a market share of more than 21.per cent. Around 37 percent of the customers come from the home market and more than two thirds of the premiums are generated in Austria. We are the undisputed market leader in health insurance in Austria, with a 47 per cent market share. UNIQA operates in 15 markets in the CEE growth region: Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Czechia, Hungary, Kosovo, Northern Macedonia, Montenegro, Poland, Romania, Russia, Serbia, Slovakia and Ukraine. The UNIQA Group also includes insurance companies in Switzerland and Liechtenstein. Already 63 per cent of the customers and more than 28 percent of the premiums arise out of the international business of the UNIQA Group. Through the partnership with the Raiffeisen banks in Austria and the CEE region, UNIQA also have access to a dense sales network in our core markets, which gives us an edge over the competition.
    [Show full text]
  • Deliver. UNIQA Group at a Glance
    GROUP REPORT 2013 / UNIQA GROUP Deliver. UNIQA Group at a glance Group key figures 2013 2012 Change Figures in € million Premiums written 5,157.6 4,864.2 +6.0% Savings portion of premiums from unit- and index-linked life insurance (gross before reinsurance) 727.9 679.0 +7.2% Premiums written including the savings portion from unit- and index-linked life insurance 5,885.5 5,543.1 +6.2% of which property and casualty insurance 2,590.5 2,545.9 +1.8% of which health insurance 937.6 909.1 +3.1% of which life insurance 2,357.4 2,088.1 +12.9% of which recurring premiums 1,674.6 1,554.6 +7.7% of which single-premium business 682.8 533.5 +28.0% Premiums written including the savings portion from unit- and index-linked life insurance 5,885.5 5,543.1 +6.2% of which UNIQA Austria 2,806.7 2,708.2 +3.6% of which Raiffeisen Insurance 878.5 819.4 +7.2% of which UNIQA International 2,162.4 1,942.8 +11.3% of which reinsurance 1,633.1 1,280.0 +27.6% of which Group functions and consolidation -1,595.1 -1,207.2 +32.1% Premiums earned (net)1) 4,935.9 4,623.9 +6.7% of which property and casualty insurance 2,438.8 2,394.4 +1.9% of which health insurance 936.1 903.0 +3.7% of which life insurance 1,560.9 1,326.5 +17.7% Savings portion of premiums from unit- and index-linked life insurance (net after reinsurance 702.3 649.9 +8.1% Premiums earned (net) including the savings portion of premiums from unit- and index-linked life insurance 5,638.2 5,273.8 +6.9% Net insurance benefits -3,955.3 -3,758.5 +5.2% of which property and casualty insurance -1,633.8 -1,638.8 -0.3%
    [Show full text]
  • GROUP REPORT 2015 / UNIQA GROUP 2015 Th Group Re FUTU in Po Rt K 20 15 /UNIQ a Gr RE Th Ou in P K
    UNIQA Group is one of the leading insurance groups in its two core markets: Group Report 2015 / UNIQA Group Austria and Central and Eastern Europe (CEE). 2015 About 21,000 employees and exclusive sales partners serve about 10 million customers across 19 countries. Commanding a market share of more than 21 per cent, UNIQA is the second largest insurance group in Austria. In the growth region CEE, UNIQA is present in 15 markets: Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Kosovo, Macedonia, Montenegro, Poland, Romania, Russia, Serbia, Slovakia and Ukraine. In addition, insurance companies in Italy, Switzerland, and Liechtenstein are also part of the UNIQA Group. Think Balanced portfolio FUTURE. 42% 42% Life insurance Property and casualty insurance 16% Health insurance Think GROUP REPORT 2015 / UNIQA GROUPGROUP REPORT 2015 UNIQA Group is one of the leading insurance groups in its two core markets: Austria and Central and Eastern Europe (CEE). About 21,000 employees and exclusive sales partners serve about 10 million customers across 19 countries. Commanding a market share of more than 21 per cent, UNIQA is the second largest insurance group in Austria. In the growth region CEE, UNIQA is present in 15 markets: Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Kosovo, Macedonia, Montenegro, Poland, Romania, Russia, Serbia, Slovakia and Ukraine. In addition, insurance companies in Italy, Switzerland, and Liechtenstein are also part of the UNIQA Group. Balanced portfolio 42% 42% Life
    [Show full text]
  • Highlights 2008
    Group Report 2008 UNIQA Versicherungen AG Highlights 2008 Premium volume again exceeds previous year: ` 5,825 million (+10,4%) Flexibility Number of insurance policies further increased: Imprint 14.7 million (+12.0%) Processes Owner and publisher UNIQA grows ahead of the market in operational business UNIQA Versicherungen AG and Products Untere Donaustrasse 21 (UNIQA Tower) Eastern expansion remains on track – solid organic growth 1029 Vienna Austria Respect Market position in Romania considerably strengthened Commercial registry no.: 92933t by the acquisition of UNITA – the sixth-largest property Data processing register: 0055506 Customers insurer in the country Investor Relations and Markets UNIQA Versicherungen AG UNIQA Versicherungen UNIQA Versicherungen AG Result diminished by financial market crisis: Stefan Glinz Profit on ordinary activities `90 million Untere Donaustrasse 21 1029 Vienna Dividend: 40 cents per share Austria Tel.: (+43) 1 211 75 3773 Group Fax: (+43) 1 211 75 793773 and Profit E-mail: [email protected] Quality Staff The insurance of a Contents www.uniqagroup.com Integrity and Partners new generation 2 Forewords The UNIQA Group Austria is one of the leading insurance 4 Strategy Information groups in Central Europe. It unites Austrian identity with a Profitable International Growth UNIQA’s Group Report is published in German and English and can be European format. 10 Customers & Markets downloaded as a PDF file from the investor relations area on our Group website. A Cut Above in Service Quality Group Report 2008 Solid Values The annual reports of the UNIQA Group’s Austrian insurance companies can Under the umbrella of the publicly listed company UNIQA 14 Processes & Products also be downloaded at this address.
    [Show full text]
  • UNIQA Insurance Group AG Company Presentation
    UNIQA Insurance Group AG Company presentation September 2013 Proposed Offering Structure Issuer • UNIQA Insurance Group AG • Offering comprises primary shares from a capital increase Type of offer and • The core shareholders will waive their subscription rights distribution • Public offering in Austria and private placement to qualified institutional investors outside Austria including Rule 144A in the US Offer structure • Approximately €700 - 800m in primary shares Listing location • Official Market on the Vienna Stock Exchange • Strengthening of balance sheet and Economic Capital ratio Use of proceeds • Continue implementing strategic plans under the UNIQA 2.0 program • Retain strategic flexibility for mid to long-term growth Lock-up • Customary 6 month lock-up for company and core shareholders • Joint Global Coordinators: Deutsche Bank, Morgan Stanley, Raiffeisen Centrobank Syndicate • Co-Bookrunners: Barclays, Berenberg, UBS 08/09/2013 14:25 12dld0274_Client Pitchbook template_New.pptx 1 Experienced and dedicated management team with a new approach since 2011 Andreas Brandstetter CEO, 44 • 16 years in insurance • CEO since 2011 • Education: Political science, business administration Hannes Bogner Wolfgang Kindl CFO, 54 CEO UNIQA International, 47 • 19 years in insurance • 17 years in insurance • CFO since 1998 • Board member since 2011 • Education: Business administration, • Education: Business administration, certified accountant focus on insurance Hands-on management style Kurt Svoboda Thomas Münkel CRO, 46 COO, 53 • 17 years in
    [Show full text]
  • AXA Has Completed the Sale of Its Operations in Central and Eastern
    Paris, October 15, 2020 AXA has completed the sale of its operations1 in Central and Eastern Europe for Euro 1.0 billion AXA announced today that it has completed the sale of its Life & Savings, Property & Casualty and Pension businesses in Poland, Czech Republic and Slovakia to UNIQA Insurance Group AG (“UNIQA”), for a total cash consideration of Euro 1.0 billion. The completion of the transaction is expected to result in a positive impact of +2 points on AXA Group’s Solvency II ratio in 4Q20. ABOUT THE AXA GROUP FOR MORE INFORMATION: The AXA Group is a worldwide leader in insurance and asset management, with 160,000 empl oyees Investor Relations: +33.1.40.75.48.42 serving 108 million clients in 57 countries. In 2019, IFRS revenues amounted to Euro 103.5 billion and Andrew Wallace-Barnett: +33.1.40.75.46.85 underlying earnings to Euro 6.5 billion. AXA had Euro 969 billion in assets under managemen t as of François Boissin: +33.1.40.75.39.82 December 31, 2019. Aayush Poddar: +33.1.40.75.59.17 The AXA ordinary share is listed on compartment A of Euronext Paris under the ticker symbol CS Mikaël Malaganne: +33.1.40.75.73.07 (ISN FR 0000120628 – Bloomberg: CS FP – Reuters: AXAF.PA). AXA’s American Depository Share is Mathias Schvallinger: +33.1.40.75.39.20 also quoted on the OTC QX platform under the ticker symbol AXAHY. Shuqi Ye: +33.1.40.75.58.44 The AXA Group is included in the main international SRI indexes, such as Dow Jones Sustainability Index (DJSI) and FTSE4GOOD.
    [Show full text]
  • UNIQA Insurance Group AG Solvency Capital and Embedded Value 2019
    UNIQA Insurance Group AG Solvency Capital and Embedded Value 2020 8 April 2021 Kurt Svoboda, CFRO EXECUTIVE SUMMARY Solvency Capital Embedded Value New Business Life, Health & Solvency Unrestricted Value Pension Fund Capital Ratio1 Tier 1 Capital MCEV2 EUR 170% 74% -5.3% 111m Impact ex-AXA Free Surplus Standard & 3 New Business on Solvency Generation Poor’s rating Margin Capital Ratio EUR A- -26% 126m 3.6% ▪ Significant impacts on MCEV and NBV values as a result of ▪ Decrease of capital position driven by ex-AXA acquisition adding ex-AXA entities and interest rate environment in 2020 ▪ Inclusion of the ex-AXA entities leads to the following uplifts as at 2020 Q4: MCEV +862m, NBV +46m ▪ Solvency position stays in internal ambition zone of minimum 170% ▪ Downward pressure on MCEV and NBV from a decline in interest rates in 2020 and COVID-19 environment ▪ Quality of capital in own funds remains strong ▪ Higher Free Surplus Generation mainly due to acquired ex- AXA business 1 Audit on Solvency & Financial Condition Report (SFCR) ongoing 2 As % of adjusted opening Life, Health & Pension Fund MCEV. The purchased ex-AXA entities are included in the adjusted opening MCEV 2 3 Annualized ex-AXA contribution for 2020 CONTENT I. Group Solvency Capital ▪ Risk Strategy ▪ Results ▪ Sensitivities and other analysis II. Market Consistent Embedded Value ▪ Results ▪ Sensitivities and other analysis III. Appendix ▪ SCR Methodology ▪ MCEV Methodology ▪ Assumptions ▪ Glossary & Disclaimer 3 I. GROUP CAPITAL REQUIREMENT Risk Strategy Key Elements of our Risk Ambition Strategy 170% ▪ Ambition is to have SCR Ratio above 170% Action ▪ We focus on underwriting risks and take Take measures to market/credit risks only to the extent reduce risk necessary 135% ▪ Target market risk share of total SCR is below 65% Recovery ▪ The target rating for UNIQA Group is Immediately increase category “A” by Standard & Poor’s solvency 100% Regulatory plan 4 I.
    [Show full text]
  • Credit Report UNIQA
    Erste Group Research Erste Group Research Credit Report | Corporate Bonds | Austria 11. June 2019 UNIQA Insurance Group Analyst: Peter Kaufmann, CFA Austria’s Second Largest Insurance Group [email protected] With a market share of 22%, UNIQA is the second largest insurance group Key financials in EUR mn 2016 2017 2018 in Austria behind Vienna Insurance Group. The group generates 70% of its Gross Prem. Written* 5,048 5,293 5,309 premium income in Austria. UNIQA is the clear market leader in health Net investment income 589 572 581 insurance in Austria, with a market share of 46%. The group generates Profit before taxes 226 265 295 around 30% of its premium income in CEE, where it has a presence in 15 Combined Ratio 98.1% 97.5% 96.8% Claims Ratio 65.7% 65.9% 65.4% markets. Its largest segment is property-casualty insurance (share of Cost Ratio 32.4% 31.6% 31.4% premiums written: 52%), followed by life (27%) and health insurance (21%). Solvency II Ratio 202% 250% 248% UNIQA's solvency capital ratio stood at 248% at the end of 2018 (most Source: UNIQA, Erste Group Research *incl. savings portion of premiums from unit- and recent available figure), which is very strong by European standards (see index-linked life insurance page 6). S&P most recently affirmed UNIQA's rating on 21 Dec. 2018 (see Key financials 1Q 2019 table on the left hand side). The outlook is stable. in EUR mn 1Q 2018 1Q 2019 Delta While premium income remained stable in 2018, pre-tax earnings rose Gross Prem.
    [Show full text]
  • UNIQA Group Report 2018
    Group Report 2018 / UNIQA Group 2018 At the forefront. Think GROUP / UNIQA REPORT GROUP 2018 Think safer, better, longer living. UNIQA Group is one of the leading insurance groups in its two core markets: Austria and Central and Eastern Europe (CEE). Around 19,000 employees and exclusive sales partners serve 10.1 million customers across 16 countries. Commanding a market share of around 22 per cent, UNIQA is the second largest insurance group in Austria. In the CEE growth region, UNIQA is present in 15 markets: Albania, Bosnia and Herzegovina, Bulgaria, Croatia, the Czech Republic, Hungary, Kosovo, Montenegro, North Macedonia, Poland, Romania, Russia, Serbia, Slovakia and Ukraine. Balanced … in the core markets of Austria portfolio … and CEE 27% 71% Life insurance UNIQA 52% Austria Property and casualty insurance 29% UNIQA 21% International Health insurance Premium distribution Think UNIQA Group at a glance Consolidated key figures In € million 2018 2017 Change Premiums written 4,989.0 4,811.7 +3.7% Savings portions from unit-linked and index-linked life insurance (before reinsurance) 320.5 481.6 –33.5% Premiums written including savings portions from unit-linked and index-linked life insurance 5,309.5 5,293.3 +0.3% of which property and casualty insurance 2,774.4 2,639.7 +5.1% of which health insurance 1,086.4 1,042.0 +4.3% of which life insurance 1,448.6 1,611.6 –10.1% of which recurring premiums 1,335.8 1,357.7 –1.6% of which single premiums 112.7 254.0 –55.6% Premiums written including savings portions from unit-linked and index-linked
    [Show full text]